Obama: More Lies on Oil
The Liar in Chief was deceiving the people about $4 billion in subsidies to big oil in a visit to Prince George's Community College in Maryland Thursday.
First of all, the $4 billion in subsidies are not subsidies, they are tax deductions. And, the majority of the deductions do not even go to big oil companies; they go to independent oil producers – small businesses, the majority of which have less than 20 employees, not the big oil companies that we often associate with oil drilling. Repealing the tax breaks would likely hurt these small American businesses, increase the amount of oil we have to import, and actually reduce the tax revenues from oil.
We don't hire a president so he can lie to us - but if there were subsidies that needed to be dealt with, why would you raise their cost of doing business if you want to lower the price of gas?